Ever take Revlimid? Wonder where the tens of thousands of dollars that Medicare or your private insurance company pays for it goes each month? To finance speculative acquisitions of small, start-up pharmaceutical companies, of course!
A few short weeks after acquiring the rights to one of the hottest yet unproven anti-myeloma therapy agents, MorphoSys’ MOR202, Celgene is at it again. This time the growing big pharma company is spending 100 million dollars just for an option to purchase Acetylon and it’s new experimental drug, an HDAC6 blocker called ACY-1215.
According to the industry website, FierceBiotech, if the drug works as well as Acetylon researchers expect, Celgene could cough-up an additional 1.6 billion dollars. That’s billion with a big, fat “B!”
And I thought committing to a few hundred million dollars in the MOR202 deal was a lot!
To me, this is all very good news. Rich investors got that way by holding on to their money, not throwing it away on bad drug deals–pun intended! So I’m becoming increasingly confident that a second wave of new myeloma drugs in the myeloma pipeline could really make a difference; many that aren’t IMiDs (Celgene’s Thalomid, Revlimid, Pomalyst) or proteasome inhibitors like Velcade or Kyprolis.
For our sake, I hope these fat cats become even wealthier than they already are. Feel good and keep smiling! Pat